FOREIGN EXCHANGE PROFESSIONALS ASSOCIATION: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
FOREIGN EXCHANGE PROFESSIONALS ASSOCIATION (EIN 47-2026757)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-03-05
IRS object ID
202530649349300713
Schema version
2024v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-03-05T13:31:42-06:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN132913243PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1HECKLER & O'KEEFE CPAS PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1200 KATONAH AVE SUITE 14AAddressLine1Txt
CityKATONAHCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10536ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN472026757EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1FOREIGN EXCHANGE PROFESSIONALSBusinessNameLine1Txt
Business Name Line2ASSOCIATIONBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlFOREBusinessNameControlTxt
Phone9142329221PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1CO HECKLER-200 KATONAH AVE STE 14AAddressLine1Txt
CityKATONAHCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10536ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJEFFERY ROBERTSPersonNm
Person TitleTREASURERPersonTitleTxt
Phone9142329221PhoneNum
Signature2025-03-05SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJOSEPH R SAULNIER CPAPreparerPersonNm
PTINP00520054PTIN
Phone9142329221PhoneNum
Preparation2025-03-05PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerJEFFERY ROBERTSPrincipalOfficerNm
Gross Receipts$200,000GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressWWW.FXPA.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2014FormationYr
Legal Domicile StateDCLegalDomicileStateCd
Activity Or MissionTO REPRESENT THE COLLECTIVE INTEREST OF INDIVIDUALS AND COMPANIES THAT PARTICIPATE IN THE INSTITUTIONAL FOREIGN EXCHANGE MARKETPLACE AND TO PROMOTE THE NEED FOR SOUND, LIQUID, TRANSPARENT, AND COMPETITIVE GLOBAL CURRENCY MARKETS TO POLICY MAKERS THROUGH EDUCATION, RESEARCH AND ADVOCACY.ActivityOrMissionDesc
Voting Members Governing Body11VotingMembersGoverningBodyCnt
Voting Members Independent11VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers14TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$240,000PYProgramServiceRevenueAmt
CY Program Service Revenue$200,000CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$240,000PYTotalRevenueAmt
CY Total Revenue$200,000CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$0PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$354,160PYOtherExpensesAmt
CY Other Expenses$350,563CYOtherExpensesAmt
PY Total Expenses$354,160PYTotalExpensesAmt
CY Total Expenses$350,563CYTotalExpensesAmt
PY Revenues Less Expenses-$114,160PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$150,563CYRevenuesLessExpensesAmt
Total Assets BOY$219,324TotalAssetsBOYAmt
Total Assets EOY$68,761TotalAssetsEOYAmt
Total Liabilities BOY$20,000TotalLiabilitiesBOYAmt
Total Liabilities EOY$20,000TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$199,324NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$48,761NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTO REPRESENT THE COLLECTIVE INTEREST OF INDIVIDUALS AND COMPANIES THAT PARTICIPATE IN THE INSTITUTIONAL FOREIGN EXCHANGE MARKETPLACE AND TO PROMOTE THE NEED FOR SOUND, LIQUID, TRANSPARENT, AND COMPETITIVE GLOBAL CURRENCY MARKETS TO POLICY MAKERS THROUGH EDUCATION, RESEARCH AND ADVOCACY.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
DescPROMOTING THE NEED FOR SOUND, LIQUID, TRANSPARENT, AND COMPETITIVE GLOBAL CURRENCY MARKETS TO POLICY MAKERS THROUGH EDUCATION, RESEARCH AND ADVOCACY.Desc
Described In Section501c30DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Subject To Proxy TaxYes (1)SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document1IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members11GoverningBodyVotingMembersCnt
Independent Voting Member11IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn Body0Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1HECKLER & O'KEEFE CPASBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9142329221PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1200 KATONAH AVE STE 14AAddressLine1Txt
CityKATONAHCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10536ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (10 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
JOSEPH HOFFMAN
CHAIRPERSON1.00Yes (X)Yes (X)$0$0$0
DALE HAVER
VICE-CHAIRPERSON1.00Yes (X)Yes (X)$0$0$0
JEFFERY ROBERTS
TREASURER1.00Yes (X)Yes (X)$0$0$0
SCOTT HALVORSEN
DIRECTOR1.00Yes (X)$0$0$0
TAYLOR HABERSTOCK
DIRECTOR1.00Yes (X)$0$0$0
CATHERINE POULTON
CO-SECRETARY1.00Yes (X)Yes (X)$0$0$0
RICHARD TURNER
DIRECTOR1.00Yes (X)$0$0$0
PAUL HOPKINSON
DIRECTOR1.00Yes (X)$0$0$0
JOHN MARCHESE
DIRECTOR1.00Yes (X)$0$0$0
TERESA KNAPP
CO-SECRETARY1.00Yes (X)Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp

Contractor Name ContractorName

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1WILMERHALEBusinessNameLine1Txt

Contractor Address ContractorAddress

US Address USAddress

FieldValueIRS element (for citing)
Address Line12100 PENNSYLVANIA AVE NWAddressLine1Txt
CityWASHINGTONCityNm
State AbbreviationDCStateAbbreviationCd
ZIP20037ZIPCd
FieldValueIRS element (for citing)
ServicesLEGAL SERVICESServicesDesc
Compensation$240,250CompensationAmt
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K1CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescMEMBERSHIP DUESDesc
Business541900BusinessCd
Total Revenue Column$200,000TotalRevenueColumnAmt
Related Or Exempt Func Income$200,000RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$200,000TotalProgramServiceRevenueAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$200,000TotalRevenueColumnAmt
Related Or Exempt Func Income$200,000RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$240,250TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$9,600TotalAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$95,000TotalAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$1,750TotalAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$567TotalAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$1,625TotalAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$1,652TotalAmt

Other Expenses OtherExpensesGrp

FieldValueIRS element (for citing)
DescDUES, FEES AND SUBSCRIPDesc
Total$119TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$350,563TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$218,589BOYAmt
EOY$67,985EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$735BOYAmt
EOY$776EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$219,324BOYAmt
EOY$68,761EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$20,000BOYAmt
EOY$20,000EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$20,000BOYAmt
EOY$20,000EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY$199,324BOYAmt
EOY$48,761EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$199,324BOYAmt
EOY$48,761EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$219,324BOYAmt
EOY$68,761EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$150,563ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS Audited0FSAuditedInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule C IRS990ScheduleC

FieldValueIRS element (for citing)
Substantially All Dues Nonded0SubstantiallyAllDuesNondedInd
Only In House Lobbying0OnlyInHouseLobbyingInd
Agree Carryover Prior Year0AgreeCarryoverPriorYearInd
Dues Assessments$200,000DuesAssessmentsAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11BTHE 990 IS AVAILABLE FOR REVIEW BY THE ORGANIZATION'S TRUSTEE PRIOR TO FILING.
FORM 990, PART VI, SECTION B, LINE 12CTHE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY BY OFFICERS AND DIRECTORS OF THE ORGANIZATION. THE ORGANIZATION OBTAINS SIGNED DOCUMENTATION FROM THE OFFICERS AND DIRECTORS CONFIRMING RECEIPT, UNDERSTANDING AND COMPLIANCE WITH THE POLICY.
FORM 990, PART VI, SECTION C, LINE 19GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
FORM 990, PART IX, LINE 11GCONSULTING SERVICES 95,000.

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